Fitch to discontinue ratings on Hudco

The decision was taken as Hudco has no internationally-rated outstanding securities in the market nor has it declared any plans of launching such instrument in the near future, an agency official saidPTI | October 14, 2015, 08:09 IST

Fitch's move late on Friday comes after Poland's government approved a draft bill to raise the cap on this year'deficit by 16 billion zlotys.MUMBAI: Fitch Ratings on Tuesday said it plans to withdraw the ratings on Housing and Urban Development Corporation (Hudco) over the next one month.

"We think Hudco is no longer considered by us to be relevant for our coverage. (However), we will continue to maintain coverage of Hudco prior to withdrawal over the next 30 days, beginning today," Fitch said in a statement.

The decision was taken as Hudco has no internationally-rated outstanding securities in the market nor has it declared any plans of launching such instrument in the near future, an agency official said.